Türkiye (Republic of)
|Date joined:||21 August, 2019|
|Initiatives:||Principles for Responsible Banking|
|Reports:||Mar 21 Jun 22|
Established in 1975, the Development and Investment Bank of Turkey, has been playing strategic role in sustainable development of Turkey as it is the only state-owned development bank. The Bank’s core business consists of three areas which are, Development Banking, Investment Banking and Turkey Development Fund. With its 46 years of experience and banking professional human resources, the Bank supports Turkey’s sustainable growth by providing financial and technical services through credit extension and capital contributions, advisory services to a wide range of companies from various industries, including but not limited to energy, manufacturing, tourism, infrastructure, entrepreneurship with its environmentally and social responsive banking approach. Taking strength from its solid and stable structure, the Bank adopts a dynamic and innovative banking mission to create a value for Turkey’s sustainable growth.
The Development and Investment Bank of Turkey and Sustainability
The Development and Investment Bank of Turkey has made significant contributions to the development and growth of Turkey, and continues to implement its financial and crediting activities for further contributions to the country’s economy, with a specific focus on sustainable development since the first day of its establishment.
The bank settled its sustainability strategy on two focal points, namely “role in supporting sustainable development” and “responsible banking approach” and these focal points have led the Development and Investment Bank of Turkey in its goal to work towards a brighter future by supporting Turkey’s sustainable development.
The Bank’s focal areas in terms of its contribution to the UN SDGs under its development banking strategy are shaped around the activities it carries out and the projects it funds by taking into account Turkey’s objectives. The Bank supports global goals set for the year 2030 through its contributions towards the main SDG focused areas, helping Turkey to achieve its targets for renewable energy production, industrial efficiency, increased employment, and inclusive economic growth.
At the Development and Investment Bank of Turkey, issues concerning sustainability and sustainable development are handled at senior management level, with the CEO leading the changes regarding sustainability. Principles of sustainable and responsible development are discussed and approached from a holistic perspective, expanding the area of influence by creating shared values for all stakeholders through the strategic initiatives introduced. The efforts to be implemented within the framework of sustainability, with reference to the environmental and social policies developed and expected to be extended, are coordinated and executed effectively with a view to expanding the functionality of the sustainability management mechanism. Through this Committee, for which the secretariat services are provided by the Subsidiaries, Corporate Relations and Sustainability Department, the Bank aims to discuss and manage the risks and opportunities which may arise from the Bank’s services and operations, as well as the economic, environmental and social aspects which form the building blocks/core components of sustainable development.
The Development and Investment Bank of Turkey has been implementing the requirements of “Environmental and Social Policy” and “Procedure on Environmental and Social Risk Evaluation in Credit Process” which were established by the approval of the Board for effective management of the potential direct and indirect environmental and social impacts of the Bank’s operational activities and financial services. The Bank applies environmental and social risk assessment process to all projects that the bank provides finance or fund independent of the type of sector or the amount of finance and monitors the environmental and social risks of the Project during the entire credit period.
Besides the Bank is committed to reduce the environmental impacts of its internal operations and the use of natural resources, as well as increasing its positive environmental activities. The bank and therefore has been implementing the requirements of ISO 14001 Environmental Management System since 2010. Regarding its greenhouse gas emissions and climate change strategies, the Bank has been reporting to CDP Climate Change Programme since 2016.
The Development and Investment Bank of Turkey is one of the founding signatories of the Principles for Responsible Banking.
The Bank has also committed to the Ten Principles of the UN Global Compact.
Development and Investment Bank of Turkey on the web